NAIROBI, Jan 23 (Reuters) - Uganda's shilling and Zambia's
kwacha are both expected to strengthen slightly against the U.S.
dollar in the next week while Kenya's shilling will hold
steady, traders said.
KENYA
The Kenyan shilling KES= is expected to remain stable in
the week ahead, with commercial banks quoting the currency at
100.85/101.05 per dollar, compared with 100.95/101.15 at last
Thursday's close.
"There could be a rise in demand with the new month around
the corner ... but there is ample dollar supply in the market,"
said a trader for one commercial bank.
UGANDA
The Ugandan shilling is seen trading with a strengthening
bias on the back of month-end hard currency inflows from
non-governmental organisations looking to pay salaries and other
expenses.
At 0805 GMT commercial banks quoted the shilling at
3,670/3,680, unchanged from last Thursday's close.
A trader at a leading commercial bank said the market was
expecting flows of hard currency from charities and some
commodity exporters that typically come in the last days of the
month.
"The local currency will probably move up a little
(strengthen) on the back of that," he said.
The local currency, he said, is likely to swing in the
3,650-3,670 range in the coming week.
ZAMBIA
The kwacha ZMW= is likely to make some marginal gains
against the U.S. dollar as companies buy the local currency to
meet month-end obligations.
On Thursday commercial banks quoted the currency of Africa's
second-largest copper producer at 14.5000 per dollar, against a
close of 14.6250 a week ago.
"It is biased towards a bit of appreciation because
corporates are preparing to pay salaries and other month-end
obligations," a senior commercial bank trader said.